Avison Young has brokered the portfolio acquisition of two single-tenant restaurant properties occupied by KFC in the cities of Iberia Parish, Louisiana, and Florissant, Missouri, totaling $3.683 million.
Both assets feature new 20-year leases with corporate guarantees from KBP Foods, Inc., the largest KFC franchisee in the United States.
Avison Young principals Chris Maling and David Maling, who are based in the company’s downtown Los Angeles office, represented the buyer, a private investor from Napa, California. The seller, a private investor from Kansas City, Missouri, was represented by Justin Zahn of CIA Commercial Investment Advisors in Phoenix, Arizona.
∙ Iberia Parish, Louisiana property
Located at 1007 E. Main St., the 2,150-square-foot asset was acquired for $1.664 million. Built in 2019, the asset has a 20-year triple net lease in place. It is located within a major retail corridor with a number of national brands nearby including Walmart Supercenter, Lowe’s Home Improvement, Hobby Lobby and Dollar Tree, among others.
∙ Florissant, Missouri, property
Located at 2450 N. Hwy 67, the 2,751-square-foot property was acquired for $2.019 million. The property was remodeled in 2017 and has a new 20-year triple net lease in place. It is near major retailers including Target, Michaels, Petco, Ulta Beauty and ALDI, among others.
